“Tax practitioners tend to focus on their clients’ income tax issues. However, businesses these days find they are spending more and more time on sales tax, particularly if they are operating in multiple states. Forty-five states, including Virginia and the District of Columbia, impose some form of retail sales and use tax, and the rules are generally different from state to state.
In addition, some local jurisdictions impose and administer their own sales and use tax. The local rules may not necessarily be the same as the state rules. Thus, compliance can be complicated for those operating in multiple states; however, operating only in Virginia can have its own complications…” Access full article.
The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.